Oil prices extend losses as markets await Strait of Hormuz talks
Oil prices fell again on continued supply concerns, as upcoming talks are expected to ease disruptions in the Strait of Hormuz.
Key Takeaways
AIOil prices declined today, extending several days of losses, amid expectations that upcoming talks could help ease supply disruptions through the Strait of Hormuz.
Brent crude futures dropped 60 cents, or 0.7%, to $87.24 a barrel, marking a fourth consecutive day of declines.
West Texas Intermediate futures fell 56 cents, or 0.7%, to $81.67 a barrel, posting losses for the fifth straight session.